Bitcoin (BTC) Price Analysis: Orbiting 41087 Technicals – 14 December 2023
Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair has lacked technical clarity after trading as low as the 40150 area. Selling pressure subsequently emerged around the 42088.56 area before bids emerged around the 40553.15 level. Trading activity is orbiting the 41087.80 area, representing the 38.2% retracement of the appreciating range from 34758.64 to 45000. The recent profit-taking pullback represented a test of the 40256 area and was established after Stops were elected below the 41458.35 level, a downside price objective related to recent selling pressure around the 44754 and 44049 areas. Additional Stops were also triggered below some significant technical levels during the depreciation including the 43044, 42583, 42159, 41835, 41087, 40619, and 40413 areas.
The recent multi-month high around the 45000 figure represented a test of the 45278.22 level,
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